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Regime: Risk-on, supported by falling VIX (16.76) and slightly rising 10Y breakevens (2.4%) despite higher real yields (2.18%). Today’s market themes: Oil supply disruption continues as India seeks alternative sources amidst Hormuz Strait tensions. USD strength muted despite higher US real yields, signaling risk appetite. Crowded positioning presents squeeze potential in…
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Where we are: The Dollar Index is currently trading around 119.10, slightly below Friday’s close. The Greenback saw an overnight drift lower as risk sentiment improved, driven by perceived progress in Middle East peace talks. Key support lies around the 118.80 level, while resistance is at the recent high of 119.50.…
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Where we are: S&P 500 futures are hovering around 5305 this morning, slightly below Friday’s New York close, digesting last week’s gains. The overnight range has been relatively tight, between 5300 and 5310, with little conviction on either side. Key support remains around the 5300 level, while resistance is forming near…
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Where we are: Spot gold is currently trading around $4,559, recovering from last week’s losses. Bullion is pushing higher after a risk-on overnight session, spurred by increasing optimism over a potential US-Iran deal. This level places it above Friday’s New York close, and within striking distance of the $4,600 mark. What’s…
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Where we are: EUR/USD is currently trading around 1.1640, recovering from a six-week low seen overnight. The pair traded in a narrow 1.1615-1.1645 range in early European hours and is attempting to build on gains from Friday’s close near 1.1620. Resistance looms at last week’s high around 1.1670, while support rests…
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Where we are: The Nasdaq 100 futures are currently trading around 19,550, holding a bid after a quiet overnight session. This is slightly below Friday’s close, but still within the recent trading range. We’re watching for a break above 19,600 to signal renewed upside momentum, while a dip below 19,500 could…
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Where we are: GBP/USD is trading around 1.2715, testing the upper end of its recent range. Overnight, Cable held a tight 1.2680-1.2720 range, and currently sits about 20 pips above Friday’s New York close. The 1.2750 level remains a key technical hurdle, with strong resistance expected there. What’s driving it: Sterling…
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Where we are: USD/JPY is currently trading around 157.00, having drifted lower overnight. The pair remains within a relatively tight range seen since the last bout of intervention, caught between dip-buyers and intervention fears. The intraday high sits near 157.25, while support is eyed around 156.50, near the prior NY session…
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Where we are: The Dow Jones Industrial Average (US30) futures are trading around 39,850, slightly below the overnight high of 39,900, and well within Friday’s range. The index closed last week on a strong note, but appears to be consolidating those gains as traders look to the week ahead. Friday’s close…
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Where we are: USD/CAD is currently trading at 1.3815, consolidating recent gains after a choppy overnight session. The pair is holding above Friday’s NY close of 1.3807, but momentum is stalling as WTI struggles to sustain its earlier rally. Initial resistance lies around 1.3830, with support around 1.3780. What’s driving it:…
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Where we are: Bitcoin currently trades around $69,750, consolidating gains from the weekend. Overnight range has been relatively narrow, between $69,200 and $70,100. This puts it slightly above Friday’s New York close, but still below last week’s highs near $71,000. What’s driving it: The immediate driver for BTC remains uncertain, pending…
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Where we are: The FTSE 100 is trading around 10,430, down roughly 35 points from Friday’s close. Overnight range has been relatively contained, oscillating between 10,420 and 10,470. Friday’s close marked the highest level since April 22nd, but momentum appears to be fading this morning. What’s driving it: UK inflation data,…
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Snapshot: AUD/USD is holding near 0.7100 in early NY trading, underpinned by a mild risk-on sentiment but facing headwinds from the RBA’s reluctance to signal imminent rate cuts. Focus shifts to US data later this morning. Watch 0.7120 resistance; a break could open the door to further gains. A hawkish surprise…
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Snapshot: WTI Crude currently trades near $112.25, still elevated given ongoing geopolitical tensions. While there has been no fresh domestic catalyst, the recent easing of tensions in the Strait of Hormuz may present some headwinds to the commodity. Watch for any further signals that the US and Iran are nearing a…
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Snapshot: The Nikkei 225 surged past 65,000, driven by optimism surrounding potential US-Iran talks and a subsequent decline in oil prices. The surge reflects a positive shift in risk sentiment, with tech stocks leading the charge. Breaching 65,000 signals strong upward momentum, potentially targeting the 65,500 level. A sharp reversal in…
